The perfect drive for something open and slow like a Bugeye Sprite. (You've got to time the weather just right though - the Oregon Coast can be chilly even in the summer)
I've done this drive more than once, and the only town I can't stand to be in is Lincoln City. Everything else is pretty charming - and don't miss the cheese factory at Tillamook.
(When I was a kid the operators of the Sea Lion Caves would wire a big cardboard sign onto the back bumper of every car that parked in their parking lot.)